South Korea’s Hyundai Glovis has won a two-year vehicle shipping contract worth KRW1.05trn ($789.5m).
The deal will see the logistics unit of Hyundai Motor Group deliver finished vehicles for an undisclosed carmaker for sale in Europe from 2023.
The contract represents 4.8% of Hyundai Glovis’ annual sales and follows close to KRW2.2trn record deal the company clinched in September to ship vehicles to Europe, the Americas, and Asia.
The company has over the last few years strategically expanded its non-Hyundai client base to include the likes of Volkswagen, Ford and BMW, which last year made up around 60% of its revenue.
